TWO agricultural projects of Metro Pacific Investments Corp. (MPIC) worth P3.4 billion received green lane endorsements from the Board of Investments (BoI), the investment promotion agency said on Wednesday.
In a statement, the BoI said that the projects are a vegetable farm project in Bulacan and a dairy farm project in Laguna.
The vegetable farm project called Metro Manila Greenhouse Vegetable Production Project will be a complex of modern greenhouses under MPIC unit Metro Pacific Fresh Farms, Inc. (MPFF).
The project, which aims to promote sustainable farming practices and modern farming technology, is slated to be the largest vegetable greenhouse facility in the Philippines and will rise in San Rafael, Bulacan.
“The farm is expected to start commercial operation in the fourth quarter of 2024, producing high-quality vegetables,” the BoI said.
According to the BoI, the project aims to reduce the agriculture sector’s consumption of natural resources by implementing modern farming practices such as nutrient film technique hydroponics and drip irrigation systems.
The agriculture sector is said to be the largest user of freshwater as it accounts for 70% of global freshwater usage.
“MPFF’s sustainable farming project redefines agriculture by discarding conventional farming methods. The initiative aims to make fresh locally sourced organic produce available to Filipinos,” the BoI said.
Meanwhile, the Integrated Dairy Farm Project under Metro Pacific Dairy Farms, Inc. aims to produce 30,000 liters of dairy products a day, which will expand the local milk production capacity by 20%.
At present, the production capacity stands at 26.3 million liters annually, the BoI said.
In October, the US Department of Agriculture (USDA) said that the Philippine dairy imports are projected to rise next year amid increasing demand.
The USDA said that the demand will be met by imports as the country ships in 99% of its dairy requirement.
The dairy farm is expected to start commercial operations in the first quarter of 2025 and will rise in Bay municipality in Laguna.
According to the BoI, the main objective of the dairy farm is to replace imported milk with locally produced products, which will help boost the country’s self-sufficiency.
“This initiative will address food security and value chain gaps by offering premium locally produced products, demonstrating a shift towards efficient local substitutes,” it added.
With the endorsement of the Metro Pacific group’s projects, a total of 22 projects under the green lane are set for speedy, simplified, and automated permit and license application processes as strategic invest-ments.
Of the total endorsed projects, 15 are in the renewable energy sector. The remaining projects are two in food security, two in manufacturing new products or new technology, and three in digital infrastructure. — Justine Irish D. Tabile